Global Partners' Series A Preferred Shares Cross 9% Yield MarkBy Preferred Stock Channel Staff, Friday, May 14, 2:08 PM ETIn trading on Friday, shares of Global Partners LP's 9.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (NYSE:GLP.PRA) were yielding above the 9% mark based on its quarterly dividend (annualized to $2.4375), with shares changing hands as low as $27.00 on the day. This compares to an average yield of 8.24% in the "Energy" preferred stock category, according to Preferred Stock Channel. As of last close, GLP.PRA was trading at a 8.64% premium to its liquidation preference amount, versus the average discount of 0.15% in the "Energy" category. The chart below shows the one year performance of GLP.PRA shares, versus GLP:
Below is a dividend history chart for GLP.PRA, showing historical dividend payments on Global Partners LP's 9.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Friday trading, Global Partners LP's 9.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (NYSE:GLP.PRA) is currently off about 0.5% on the day, while the common shares (NYSE:GLP) are up about 0.6%.
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